RAT race cash cow for quick thinkers

A SMALL network of medical wholesalers is cashing in on the nation’s mega Rapid Antigen Test buy-up.

Only 20 companies are registered with the Therapeutic Goods Administration to bring the tests into Australia.

The industry will be worth more than $2.1bn in January and February, as Australians stick 210 million swabs up their noses to get back to school and work.

The federal government ordered 80 million tests, while state and territory governments ordered 130 million RATs at the start of this year.

Sydney entrepreneur Austyn Campbell , who previously worked at fitness brand Bala, and Julie Bishop’s “stepdaughters” Sally and Laura Panton have benefited from the testing boom.

Ms Campbell’s company Motion One is a registered importer of RATs into Australia.

Ms Campbell, who lives in the exclusive Sydney suburb Elizabeth Bay, said she was disappointed with some reports that she was an overnight operator cashing in on the pandemic.

“We have been importing RATs to Australia since November and these have been approved by the TGA,” she said. “My background is finance/venture capital and it was a business that was set up to help with the sourcing and manufacturing of products for start-ups that I was involved in.”

And she dismissed claims that she was running the business from her apartment.

“I do not run the business from my apartment. I have two offices and 11 staff,” she said.

Ms Campbell said wholesalers were not price gouging and had no control over the retail price.

“We are an importer, not a retailer, and have supplied medical consumables in Australia for two years,” she said.

Importers have been forced to meet strict standards to get the green light for contracts.

And with school children forced to take up to two tests a week in some parts of Australia, the demand for RATs would continue to soar.

The tests must reach a minimum of 80 per cent sensitivity to be approved by the TGA, but some were as high as 95 per cent accurate.

A test imported by Roche Diagnostics made by SD Biosensor in Korea, an Innovation Scientific test made in Australia, an Azure Tech test made in China but imported by Emergence Technology and the Access Bio tests imported by Pantonic were the only registered tests with “acceptable sensitivity”.

Ms Campbell’s company imported Jiangsu Well Biotech Co Ltd tests, which have a high sensitivity.

The Health Department, when asked if consumers should shop around for more sensitive tests, said that all tests entering Australia met minimum standards .

“All Covid-19 rapid antigen self tests must meet the minimum requirements to be approved by the TGA,” the department said in a statement.

“Each manufacturer is required to submit data that demonstrates their test meets the regulatory requirements, including minimum performance (and sensitivity) criteria, as well as providing information on labelling and instructions for use that can be easily understood by consumers.”